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Investing.com - TD Cowen has reiterated its Buy rating on Boeing (NYSE:BA) with a price target of $230.00, citing better-than-expected 787 deliveries that suggest a potential second-quarter free cash flow beat. The stock, currently trading at $227.55, has shown remarkable momentum with a 27% gain over the past six months. According to InvestingPro analysis, Boeing appears to be trading above its Fair Value, though analysts see further upside with price targets ranging from $150 to $275.
Boeing recorded 116 gross orders in June, with 113 net adjusted orders, consisting of 51 737s and 62 787s, according to TD Cowen analyst Gautam Khanna. The company delivered 60 aircraft during the month, including 42 737s, 9 787s, 5 767s, and 4 777s. With a market capitalization of $171.6 billion, Boeing remains a prominent player in the Aerospace & Defense industry. InvestingPro subscribers can access 8 additional key insights about Boeing’s financial health and growth prospects in the comprehensive Pro Research Report.
The aircraft manufacturer’s second-quarter free cash flow will likely exceed its guidance of negative $2.3 billion, possibly by more than $500 million, driven by higher 787 and 737 deliveries, the analyst noted.
TD Cowen estimates Boeing’s June monthly production rates at 36 aircraft for the 737 model and 6 for the 787 model, showing continued manufacturing momentum despite recent challenges.
The firm also highlighted that Boeing’s June orders were stronger than anticipated, especially following what it described as a "quiet Paris Air Show" for the aerospace giant.
In other recent news, Boeing reported the delivery of 150 commercial aircraft in the second quarter of 2025, bringing the year-to-date total to 280. This includes 104 of the 737 model, which remains the company’s highest-volume commercial aircraft program. Additionally, Boeing has been awarded a $61 million contract modification by the U.S. Department of Defense for anti-submarine warfare equipment, with potential options that could increase the total contract value to $349 million. On the commercial front, Garuda Indonesia has announced plans to purchase Boeing 737 Max 8 and 787-9 aircraft models, although the timeline and financing details remain undisclosed.
In terms of analyst activity, Susquehanna raised its price target for Boeing to $252, maintaining a Positive rating due to progress in commercial production. Barclays (LON:BARC) reiterated its Overweight rating with a $210 price target, emphasizing stable delivery trends for the 737 MAX jets. Boeing’s second-quarter deliveries included 36 major program deliveries in its defense, space, and security division. The company plans to release detailed second-quarter financial results later this month, which will finalize these delivery numbers.
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